Barstool Sports founder Dave Portnoy is known for his opinions on sports. In recent years, he also became well known for his opinions about the cryptocurrency sector. He recently sold his stake in XRP (CRYPTO: XRP) and missed out on millions of dollars.
What Happened: Portnoy, who was known to invest in altcoins earlier this year, shared back in December that he held $1.3 million in XRP Token and $1.5 million in Bitcoin (CRYPTO: BTC). The investor said he planned to set the investments and forget them.
Fast forward to July 2025 and Portnoy recently admitted in a video shared July 17 that he sold his XRP at around $2.40.
Portnoy said XRP was going from $2.10 to $2.40, back to $2.10, back to $2.40. A crypto analyst who has given Portnoy advice texted and said he didn't like what XRP was doing and thought that Circle Internet Group (NYSE:CRCL) and the competition in the stablecoin space could be bad news for XRP.
The Barstool Sports founder said he had close to $3 million in XRP and decided to sell it when it went back up to $2.40.
"I wasn't going to sell it. I was going to diamond hands it," Portnoy said.
After selling the XRP, the cryptocurrency "went parabolic," according to Portnoy.
"I blame my $XRP guy who texted me out of the blue to say he didn't like it as much anymore," Portnoy tweeted.
The investor said the person who texted him said they didn't sell their XRP as they hold things for five years.
"I would have made millions. I want to cry."
Portnoy said selling early and missing out on millions "made me sick to my stomach."
XRP trades at $3.53 today, with the one-month range $1.91 to $3.65. The recent high of $3.65 is just shy of an all-time high of $3.84 hit back in 2018 and marks the highest price for XRP in seven years.
Read Also: If You Invested $1,000 In XRP Token When Snoop Dogg Performed At Ripple’s 2018 Event, Here’s How Much You’d Have Today
Why It's Important: Despite the missed profits in XRP, Portnoy said he's still made profits on his Bitcoin and Ethereum (CRYPTO: ETH) investments.
"I'm still doing good," Portnoy said.
Portnoy's investments in Bitcoin and XRP in December 2024 happened after the investor interviewed Bitcoin bull Michael Saylor.
“I’m always late to these runs,” Portnoy said in response to a viewer of his “Davey Day Trader Global” stream.
Portnoy also shared that he is holding his Bitcoin, saying he had 15 Bitcoin, worth around $1.5 million.
“I’m gonna bet it and set it, not trading,” Portnoy said of the cryptocurrencies.
During the streams, Portnoy also discussed the optimism for Ripple and XRP thanks to the launch of the stablecoin, while adding that RLUSD was not a hidden thing.
“Already so much hype.”
The Barstool Sports founder asked Saylor, who is known as one of the biggest Bitcoin bulls, to explain Bitcoin to him in a way he can understand. The interview came after Portnoy confessed to selling his Bitcoin after the Winklevoss twins confused him back in 2020.
Portnoy’s investment in XRP came after Saylor essentially told him to buy Bitcoin and not worry about other investments.
Along with cryptocurrency investments, Portnoy is also up on his recent buy of Tesla Inc (NASDAQ:TSLA) stock. Portnoy invested $10 million in Tesla two weeks ago with shares down on bearishness from a battle between CEO Elon Musk and President Donald Trump.
While the initial investment was down shortly after Portnoy's trade, Tesla stock is now up around 12% from his purchase, surpassing his original goal of making 10% or a couple million bucks on the short-term trade.
Read Next:
- Dave Portnoy Holds Millions In Bitcoin And XRP, But Here’s Why He Concluded His Heart Is ‘Too Big For This Space’
Photo: Shutterstock
